Economic ties between Oman and Tanzania have seen substantial growth, with trade volumes surging from $140 million to $350 million over the last three years. This expansion highlights the strengthening economic and investment collaboration between the two nations. Oman’s Ambassador to Tanzania, Saud Hilal Al Shidhani, emphasized the enhancement of their historical connections through increased business activities and investment in critical sectors. Omani enterprises have made significant inroads into the Tanzanian market by participating in trade exhibitions and forming partnerships with local businesses.
Ambassador Al Shidhani pointed out Tanzania’s advantageous position as a gateway to East Africa, providing access to regional markets thanks to its involvement in the East African Community (EAC) and the Southern African Development Community (SADC). He noted that recent agreements concerning investment protection and double taxation have spurred investments in several sectors, including oil and gas, mining, agriculture, fisheries, manufacturing, logistics, airport management, and transport.
The mutual economic relationship has also been bolstered by Tanzanian investors showing increased interest in Oman’s real estate market. Looking forward, both countries intend to concentrate on future cooperation in logistics, ports, renewable energy, tourism, food processing, mining, and special economic zones. These areas offer promising opportunities for further collaboration and development.
Preparations are underway for the third session of the Oman-Tanzania Joint Committee, set to take place in Dar es Salaam. This meeting aims to review ongoing projects and identify new avenues for cooperation. Furthermore, Air Tanzania plans to inaugurate three weekly direct flights between Dar es Salaam and Muscat, which is expected to enhance tourism, trade, and business travel between the two nations.